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How Much is Stamp Duty?
How much stamp duty you pay as a homebuyer depends on many factors, including the property value and whether you already own a home.
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Stamp duty is a tax that you may have to pay when buying residential property or land in the UK. There are different rates and thresholds for calculating stamp duty, depending on where in the UK you are buying, the value of the property, and whether you’re a first-time buyer, moving home or buying an additional property.
In England and Northern Ireland stamp duty is officially called Stamp Duty Land Tax. The equivalent tax in Scotland is called Land and Buildings Transaction Tax, while in Wales it is called Land Transaction Tax.
How much stamp duty will I pay?
The amount of stamp duty you pay is calculated on a tiered basis. So how much stamp duty you pay in total depends on the portion of the property price that falls into the different stamp duty tax bands.
In some instances, you may not have any stamp duty to pay at all. For example, if you’re buying in England or Northern Ireland, stamp duty is only payable on residential property costing more than £125,000.
However, location is important. While England and Northern Ireland share the same stamp duty rules, Scotland and Wales have their own versions of the tax with different rates, bands and exemptions.
Whether you’re a first-time buyer or purchasing an additional home will also affect how much property stamp duty tax you pay. If you’re buying for the first time there may be a higher threshold before stamp duty applies, or you may qualify for a discount. However, higher stamp duty rates tend to apply if you’re buying an additional property.
» MORE: What is stamp duty?
Stamp duty rates in England and Northern Ireland
Since 1 April 2025, the current stamp duty bands and rates if you’re buying a residential property in England and Northern Ireland, it is the only property you’ll own, and you are not a first-time buyer are:
| Property purchase price | Stamp duty rate |
|---|---|
| Up to £125,000 | 0% |
| £125,001 to £250,000 | 2% |
| £250,001 to £925,000 | 5% |
| £925,001 to £1.5 million | 10% |
| Over £1.5 million | 12% |
Source: Gov.uk
Stamp duty calculation example
Here’s a simple example of how to calculate stamp duty, if you’re buying a house for £350,000 in England or Northern Ireland, and you’re not a first-time buyer. The amount of stamp duty payable is calculated as:
- 0% on the first £125,000 = £0
- 2% on the next £125,000 = £2,500
- 5% on the next £100,000 = £5,000
- Total stamp duty = £7,500
Stamp duty rates for first-time buyers
Stamp duty rates and thresholds differ for first-time buyers in England and Northern Ireland.
If you’re a first-time buyer, stamp duty only becomes payable if the property you’re buying costs more than £300,000. A rate of 5% then applies to the portion of the property costing £300,001 to £500,000.
However, this special first-time buyer stamp duty relief will not apply if you’re buying a property worth more than £500,000. Instead, you’ll pay in line with the normal stamp duty rates.
» MORE: First-time buyer stamp duty relief
Stamp duty rates on additional properties
You will usually pay a higher rate of stamp duty if you’re buying another property in addition to your main residential home. Currently, you may have to pay an extra 5% on top of the standard stamp duty tax rates when buying an additional property.
If you’re simply moving home and the new property becomes your only residence, then you won’t have to pay the 5% surcharge. The additional charge is payable if you purchase a new home before selling your current property, but you can claim a refund if you sell your previous property within the next 36 months.
Stamp duty rates in Scotland
In Scotland, homebuyers pay Land and Buildings Transaction Tax (LBTT) instead of stamp duty when buying a home.
The current LBTT rates for buyers in Scotland, which have applied since 1 April 2021, are:
| Property purchase price | LBTT rate |
|---|---|
| Up to £145,000 | 0% |
| £145,001 to £250,000 | 2% |
| £250,001 to £325,000 | 5% |
| £325,001 to £750,000 | 10% |
| Over £750,000 | 12% |
Source: Revenue Scotland
For first-time buyers in Scotland there is a higher LBTT threshold of £175,000 before stamp duty becomes payable. In Scotland, you usually need to send a tax return if you pay more than £40,000 for a property, even if there is no LBBT to pay.
An Additional Dwelling Supplement (ADS) of 8% is payable if you’re buying an additional property in Scotland worth over £40,000.
More information about LBTT in Scotland is available on the Revenue Scotland website.
Stamp duty rates in Wales
Homebuyers in Wales pay Land Transaction Tax (LTT) rather than stamp duty.
The current LTT rates in Wales, which have applied since 10 October 2022 are:
| Property purchase price | LTT rate |
|---|---|
| Up to £225,000 | 0% |
| £225,001 – £400,000 | 6% |
| £400,001 – £750,000 | 7.5% |
| £750,001 – £1.5 million | 10% |
| Over £1.5 million | 12% |
Information from Gov.Wales
The same rates apply if you’re a first-time buyer buying in Wales – there is no discount or relief. Higher rates may be payable if you’re buying an additional home.
More details about LTT in Wales can be found on the Welsh Government website.
Useful links
- Mortgage calculators
- How much can I borrow for a mortgage?
- Mortgage interest rate calculator
- Mortgage overpayment calculator
- Mortgage repayment calculator
- Buy to let mortgage calculator
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